CS for SB 266 - Covenants and Restrictions Summary

• Creates the "Marketable Record Title Act" as ch. 712 short title and expands definitions to include "community covenant or restriction" and broadens "property owners' association" beyond homeowners' associations to include other entities responsible for property operation with mandatory membership.

• Permits property owners' associations to preserve covenants and restrictions from extinguishment under the Marketable Record Title Act by filing a written notice, summary notice, or amendment during the 30-year period following the root of title, eliminating the previous requirement for two-thirds board approval.

• Removes the requirement for additional notice from the property owners' association or clerk of the circuit court when filing notices to preserve covenants, and clarifies that indexing failures do not affect notice validity.

• Creates s. 712.12 to allow parcel owners in communities without homeowners' associations to use revival procedures under ss. 720.403-720.407 to revive lapsed covenants, with exceptions requiring written approval and allowing parcel owners to challenge revivals by Oct. 1, 2019.

• Requires property owners' associations to consider preservation of covenants at the first board meeting following the annual members' meeting and establishes a standardized form for recording preservation notices under s. 720.3032.